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Insights For Action

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How the MSP Region is Addressing the Growing Talent Crisis with Analysis of Real-time Labor Market Data

In the last few years, a range of online analytical tools has enabled a clear view of our dynamic and constantly changing labor market. For the first time, this data is available to job counselors and planners not just as information for reflection, but as a real-time action tool to direct jobseekers to the best opportunities. This report outlines our approach to taking the first step in addressing this crisis: documenting the labor shortage and skills gap, identifying the impact that our programs and initiatives could have on closing those gaps, and building a strategy for a more systematic and employer-led long-term solution.

We believe workforce development must now be based on a real-time feedback loop. Without a clear line of sight into the current labor market realities, it is impossible to advise job-seekers effectively, meet employer talent needs, or plan effective educational systems. We have learned that in a program-rich, systems-poor environment, context in real dataand short-term outcomes can help move out of the spin-cycle of planning and into systems change.

However, a strong report alone will not lead to systematic change, better programs, or improved outcomes without engaging the necessary leaders to take the next step. Even after reviewing the wealth of LMI, job postings, and educational data at our disposal, it is still essential to get out in the field and talk to employers, training program managers, K-12 educators, and postsecondary directors get their take on the accuracy and relevancy of the data and your conclusions from it.  Only then can we identify solutions that ensure employers have the workers required to sustain and grow Minnesota’s economy.

Real Time Talent and MSPWin will continue to promote and expand demand-driven solutions that are grounded in the realities of talent supply limitations and opportunities. We hope that this implementation guide is an important step toward building the next generation of cross-sector, employer-led education and workforce collaboratives to address the workforce challenges of our time.

Click HERE to read the full report.

RTT Joins Center for Workforce Solutions

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As a Program of the Minnesota Chamber Foundation, RealTime Talent Joins the Newly Created Center for Workforce Solutions

St. Paul, MN (05/08/18): The Minnesota Chamber yesterday announced the creation of the Center for Workforce Solutions, an innovative initiative under the leadership of the Chamber Foundation. Through collaboration and key partnerships, it offers research and programs to confront the state’s growing worker shortage and will help solve critical workforce challenges to sustain and grow Minnesota’s economy for the long term.
A key component of the Center for Workforce Solutions will be the work of RealTime Talent.  RealTime Talent seeks to increase workforce alignment throughout the state of Minnesota by bringing together education, workforce, economic development and private sector leaders.  RealTime Talent provides real-time labor market data to inform and affect market-oriented decisions made be these key stakeholders in Minnesota’s workforce and education system.  Recently, RealTime Talent published a series of reports detailing sector-specific occupations with high growth, middle skill, and livable wage opportunities.  These sector analyses have become critical data points used in workforce solutions conversation across the Twin Cities, and RealTime Talent is working to scale this work state-wide.
Along with RealTime Talent, the Center for Workforce Solutions will consist of three other solutions-focused components:

  •  MN Job Match is a job-to-candidate matching platform that helps employers find the right fit in qualified candidates. This platform’s unique capabilities matches modern skills with the changing needs in the marketplace, helps bridge the gap among job-seekers and employers, and identifies new opportunities.
  • Business Education Networks (BEN) seek to narrow the skills gap by helping students understand the career opportunities and complete necessary degree and certificate programs, thus helping employers find highly-skilled workers. BEN is already connecting businesses and local chambers with students, educators and workforce training programs in Winona, Brainerd, Waconia and White Bear Lake, with plans to accelerate networks throughout the state.
  • Educational opportunities bring together community and business leaders facing these challenges and offering solutions to ensure long-term economic success. The center offers resources and information that can expand employers’ knowledge base and offer new, innovative approaches to recruitment and retention. On May 9, the chamber will host the “Workforce Solutions Forum: Growing through Hidden Talent and Automation.” This half-day program will help employers tap the underutilized segments of our workforce and delve into how automation impacts all levels of production, and adapts how business is done to stay efficient with a shrinking workforce.

RealTime Talent is a public-private collaborative with a goal of increasing workforce alignment in Minnesota. We introduce tools and innovation to address labor force needs and support our higher education and workforce systems.  Our partners provide services to employers, job-seekers, planner and educators, using the tools and research we provide.  In January of 2018, RealTime Talent became a program of the Minnesota Chamber Foundation, a not-for-profit organization that shares in the mission of driving workforce solutions. For more information, contact Phil Arellano, RealTime Talent Training & Communication Specialist
651-201-1774 or email phil@realtimetalentmn.org